Safe Hands Plans: Finance

(asked on 19th January 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 17 January 2023 to Question 120941 on Safe Hands Plans: Finance, whether his Department made an assessment of the potential merits of providing support to Safe Hands’ customers at the time that those concerns were raised.


Answered by
Andrew Griffith Portrait
Andrew Griffith
Minister of State (Department for Science, Innovation and Technology)
This question was answered on 25th January 2023

Safe Hands Plans went into administration in March 2022. The government understands that this situation is very concerning for customers of Safe Hands.

Since being made aware of misconduct across the funeral plan sector in 2017, the government and Financial Conduct Authority have dedicated significant resource to regulate the sector fully. This has ensured that those trying to make financial arrangements for their funerals now have the right regulatory protections.

The government’s work to bring pre-paid funeral plans into regulation has ensured that – for the first time – 1.6 million funeral plan consumers are protected from poor practice within the sector. Because of the action taken, it is now a criminal offence to sell pre-paid funeral plans without FCA authorisation.

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